Ferris Company began 2018 with 6,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January 2018 are as follows:

	Purchases
Date of Purchase	Units		Unit Cost*			Total Cost
Jan. 10	5,000		$	9			$	45,000
Jan. 18	6,000			10				60,000
Totals	11,000							105,000

* Includes purchase price and cost of freight.

Sales
Date of Sale	Units
Jan. 5	3,000
Jan. 12	2,000
Jan. 20	4,000
Total	9,000

8,000 units were on hand at the end of the month. Required: Calculate January's ending inventory and cost of goods sold for the month using each of the following alternatives: 1. FIFO, periodic system. 2. LIFO, periodic system. 3. LIFO, perpetual system. 4. Average cost, periodic system. 5. Average cost, perpetual system.

Calculate January's ending inventory and cost of goods sold for the month using FIFO, periodic system. Cost of Goods Available for Sale Cost of Goods Sold - Periodic FIFO Ending Inventory - Periodic FIFO Cost of FIFO # of units unit Goods Sold in ending ost r Ending $ 8.00S |#of units | Cost per Goods unit Available for sold Sale Cost per unit Cost of # of units Cost per Goods Sold inventory Inventory $ 8.00 S Beginning Inventory Purchases 6,000 S 8.00 S 48,000 45,000 60,000 S 153,000 $ 9.00 $ 9.00 January 10 January 18 5,000 S 9.00 6,000 S 10.00 $ 10.00 $ 10.00 Total 17,000